The US rapper – who released his latest album 4:44 in 2017 – saw his net worth jump from 810 million dollars (£590 million) to 900 million dollars (£655 million) in the past year, according to Forbes.

Jay Z concert – London

It is the first time he has topped the magazine’s list of wealthiest hip-hop stars since they began compiling it in 2011. This is largely thanks to the rising value of his stakes in Armand de Brignac champagne and D’usse cognac, Forbes said.

He overtook Diddy who falls to second with a net worth of 825 million dollars (£600 million) while Dr Dre is third at 770 million dollars (£560 million).

With a net worth of 100 million dollars, Eminem is in joint fourth with Canadian musician Drake – the only non-US rapper on the list.